American Samoa § 29.0322 - Required reserves.
Full text of American Samoa American Samoa Code Annotated § 29.0322 — Required reserves., with citation guidance and answers to common questions.
§ 29.0322. Required reserves.
Every insurer authorized to transact insurance, or transacting insurance, in American Samoa shall at all times maintain, in addition to reserves few all other liabilities, reserves as follows: (1) loss or claim reserves in an amount estimated in the aggregate to provide for the payment of all losses or claims insured, whether reported or unreported, which are unpaid and for which such insurer may be liable, together with an amount estimated to provide for the expense of adjustment or settlement of such claims; and (2) premium reserves equal to the unearned portions of the gross premiums charged on unexpired or undetermined risks and policies.
Frequently Asked Questions About American Samoa § 29.0322
What does American Samoa Code Annotated § 29.0322 cover?
Section 29.0322 ("Required reserves.") is part of the American Samoa Code Annotated, the codified statutory law of American Samoa. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite American Samoa § 29.0322?
A common citation format is "American Samoa Code Annotated § 29.0322" (American Samoa). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of American Samoa law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the American Samoa official source linked on this page or consult a licensed American Samoa attorney.
How does American Samoa § 29.0322 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in American Samoa can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in American Samoa.